Too much wriggle room for comfort on ARM deal says Cambridge MP

Posted by Daniel Swain98.20pc on August 03, 2016

Cambridge MP Daniel Zeichner commented as further details of the largest takeover of a European technology company were made clear. The full terms and conditions of the Scheme of Arrangement between Japan’s SoftBank and Cambridge chip-designer Arm Holdings were finally published.

Daniel Zeichner said: "While we all hope that this will work out well for ARM, their workforce and for Cambridge, many will still have reservations. The Scheme of Arrangement process is a relatively novel process which remains untested in terms of guarantees, and reading the small-print further concerns arise. Definitions of what kind of jobs will be kept in Cambridge and the UK, what skill levels, and whether full or part-time, leave too much wriggle room for comfort. The decision meeting is in just four weeks time, with Parliament in recess and many stakeholders away. This is a big, big decision for ARM, for Cambridge and the UK and it shouldn't be rushed."